(Jenny Leonard & Saleha Mohsin – Bloomberg)
China will reject new trade talks if President Donald Trump moves ahead with the next round of U.S. tariffs on Chinese products, throwing into doubt the prospect of a diplomatic breakthrough, according to two people familiar with the matter.
The administration earlier this month floated the idea of talks led by Treasury Secretary Steven Mnuchin, with Chinese Vice Premier Liu He expected to lead the Beijing delegation. But President Donald Trump last week ordered aides to move forward with tariffs on as much as US$200 billion in Chinese goods, and a 10 percent duty could be imposed as soon as Monday or Tuesday, according to five people familiar with the matter.
Beijing has already said it will retaliate for the new round of tariffs. Chinese officials have also signaled to U.S. counterparts that Mnuchin’s talks won’t happen. Click here to read more.
- Mixed Messages From U.S. Run Risk of Sinking Trade Talks Again (Bloomberg)
- Trump Says Tariffs Will Save American Factories; History Shows Otherwise (New York Times)
- Chinese Official: Beijing Should Target Goods Needed by U.S. (Associated Press)
- Beijing Urged to Print More Money to Help China Cope With Donald Trump’s Trade War (SCMP)
- U.S. Ready for ‘Serious’ Trade Talks With China, Says Trump Adviser Kudlow (MarketWatch)
- Report: Trump Going Ahead With Plans for New China Tariffs (Associated Press)